Ceva (NASDAQ:CEVA) Shares Down 8.7% – What’s Next?

Ceva, Inc. (NASDAQ:CEVA) shares fell 8.7% during trading on Friday . The company traded as low as $27.75 and last traded at $27.99. 191,788 shares were traded during mid-day trading, a decline of 33% from the average session volume of 286,513 shares. The stock had previously closed at $30.66.

Analyst Ratings Changes

A number of brokerages have recently commented on CEVA. Rosenblatt Securities restated a “buy” rating and issued a $40.00 target price on shares of Ceva in a research note on Thursday, August 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ceva in a research report on Saturday, September 27th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $35.60.

Ceva Stock Down 12.2%

The stock has a market cap of $642.61 million, a PE ratio of -64.07 and a beta of 1.29. The stock has a 50-day moving average of $24.35 and a 200 day moving average of $23.10.

Ceva (NASDAQ:CEVA) last announced its quarterly earnings data on Monday, August 11th. The semiconductor company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $25.68 million for the quarter, compared to the consensus estimate of $25.33 million. Ceva had a negative return on equity of 3.04% and a negative net margin of 9.48%.The firm’s revenue was down 9.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 earnings per share. Research analysts forecast that Ceva, Inc. will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Ceva

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CEVA. GAMMA Investing LLC increased its stake in Ceva by 3,600.0% during the first quarter. GAMMA Investing LLC now owns 88,022 shares of the semiconductor company’s stock worth $2,254,000 after acquiring an additional 85,643 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in Ceva during the first quarter worth $922,000. Principal Financial Group Inc. increased its stake in Ceva by 2.3% during the first quarter. Principal Financial Group Inc. now owns 117,894 shares of the semiconductor company’s stock worth $3,019,000 after acquiring an additional 2,629 shares during the last quarter. D.A. Davidson & CO. increased its stake in Ceva by 5.7% during the first quarter. D.A. Davidson & CO. now owns 63,437 shares of the semiconductor company’s stock worth $1,625,000 after acquiring an additional 3,423 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Ceva during the first quarter worth $225,000. Institutional investors and hedge funds own 85.37% of the company’s stock.

Ceva Company Profile

CEVA, Inc provides silicon and software IP solutions to semiconductor and original equipment manufacturer (OEM) companies worldwide. Its 5G mobile and infrastructure products include Ceva-XC vector digital signal processors (DSPs) for 5G handsets, 5G RAN, and general-purpose baseband processing; PentaG-RAN, an open ran platform for base station and radio; and PentaG2 – 5G NR modem platform for UE, as well as for non-handset 5G vertical markets, such as fixed wireless access, industry 4.0, robotics, and AR/VR devices.